The Benets of Open Source

Platforms in Practice
Dickie Whitaker
Agenda
New technology platforms and solutions.
Greater transparency: identifying uncertainty.
sources of sensitivity and their consequences.
Enabling a community: cost and choice
benets.
What's the deal with open
platforms?
Open-source software (OSS) is computer software with its
source code made available and licensed with a license in
which the copyright holder provides the rights to study,
change and distribute the software to anyone and for any
purpose.[1] A report by the Standish Group (from 2008)
states that adoption of open-source software models has
resulted in savings of about $60 billion per year to
consumers.[3][4]
How does it work
Users should be treated as co-developers
The users are treated like co-developers and so they
should have access to the source code of the software.
Furthermore users are encouraged to submit additions to
the software, code xes for the software, bug reports,
documentation etc. Having more co-developers increases
the rate at which the software evolves. Linus's law states,
"Given enough eyeballs all bugs are shallow." This means
that if many users view the source code, they will
eventually nd all bugs and suggest how to x them.

How does it work
Early releases: The rst version of the software should be
released as early as possible so as to increase one's
chances of nding co-developers early.
Frequent integration: Code changes should be integrated
High modularization: The general structure of the software
should be modular allowing for parallel development on
independent components.
Dynamic decision making structure


Some examples
Linux
What is the reason for the
creation of Oasis?
Barriers to entry over the years had restricted the creation
of a vibrant marketplace, limited global experts access to
our business and limited innovation.
The market wanted change and twenty-one companies
took the initiative and created the Oasis Loss Modelling
Framework to become the rst major entrant to the cat
model market since 1994.
Oasis Vision
Not for prot, open & open source innovative,
sustainable
Creating a Community diversity and identity
Driving model transparency better informed decisions
Stimulate innovation & drive change greater utility
Rapid, phased development Fit for purpose
Enabling a commercial marketplace drive competition
& supply
Oasis founding Members
Climate KIC
Lloyds
Scor
Catlin
Validus
Ren Re
Hiscox
TigerRisk Partners
Cathedral
Novae
Zurich
Liberty
Aspen
Aon Beneld
Guy Carpenter
Willis
Partner Re
Allianz
Axis
Amlin
Tokio Millennium /Kiln
Suncorp
Oasis Associate Members
What is Oasis?
Oasis is a exible plug and play
framework
It allows hazard, vulnerability and
user interface specialists to easily
offer their products.
It gives users the choice of
provider, method of integration
and IT environment
It provides full uncertainty
information
It allows users to choose their
view of risk
What is Oasis? Technical
Three-tier modern, exible
Extensible agnostic kernel
Scaleable from laptop to supercomputer
Deployable can run on many operating systems
Webservices plug and play
Three Tier Architecture
Full Discrete Calculation
Full Discrete Calculation
cf ARA:
Uncertainties in cat models
More than just an EP curve
Cccupancy - lndusLrlal
L.A., 1991, 2-sLory, Level 0 for
all subLypes, 30 slmulaLlons,
wlLh 30,000-yr walkLhrough
each
1u: 40
8SW_C: 20
8SW_M: 20
W_L: 10
C8l: 7
LS: 3
1000 ?r 8
Loss ulsLrlbuLlon
Source Data
CCuA 1ype
L.A., 1991, 2-sLory, Level 2
1u: 100
1000 ?r 8
Loss ulsLrlbuLlon
What Strategy to adopt?
Exposure Database Results Database
Workow Reporting
Calculator
What are the advantages-
Widest pool of intellect from science and technology
Choice of platform, technology and cloud (or not)
Can be integrated with preferred workow (a framework not a
platform)
Real own view of risk achievable
Greater variance of treaty pricing
A commercial environment to stimulate a market place
Will signicantly reduce cost
Oasis loss modelling
framework
Giving the market choice
Join us
Info@oasislmf.org